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American who won $ 731 million in lottery was advised to invest in bitcoin

CNBC host of Mad Money, Jim Cramer, offered his investment strategy to the $ 731.1 million Powerball winner.

After the draw on Wednesday, the identity of the owner of the jackpot was not disclosed, it is known that the ticket was purchased in a small shop in Maryland. The state is one of the few where winners remain anonymous.

Kramer believes that the sixth largest win in the history of the lottery puts its owner in a strong position, and he does not need to take risks with investments. But the problem of wealthy people is inflation, in particular – hyperinflation, the host added.

As one of the measures to save the value of the fortune, Kramer suggested investing 5% in the first cryptocurrency. He also advised not to buy bitcoin for the entire amount at once and do it on weekends.

“This is an important new store of value,” said the former hedge fund manager.

Cramer named precious metals, real estate and art objects as hyperinflation-resistant assets. He also urged to invest 5% of the winnings in them. In his opinion, more than 20% of the state should not be directed to the stock market.

The CNBC host owns some of the first cryptocurrency, which he bought at a rate below $ 18,000. According to him, digital assets do not occupy a large share in his portfolio.

Recall that an Illinois resident invested in bitcoin half of the lottery win of $ 500,000. He purchased the cryptocurrency in May 2019 and intended not to touch the assets “for at least a year.”

On January 8, 2020, the bitcoin price reached a new all-time high.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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